Investing · Western classics

Thomas Malthus:An Essay on the Principle of Population, Excerpt 71

Thomas Malthus《An Essay on the Principle of Population》· An Essay on the Principle of Population · Investing

But the English North American colonies, now the powerful people of the United States of America, made by far the most rapid progress. To the plenty of good land which they possessed in common with the Spanish and Portuguese settlements, they added a greater degree of liberty and equality. Though not without some restrictions on their foreign commerce, they were allowed a perfect liberty of managing their own internal affairs. The political institutions that prevailed were favourable to the alienation and division of property. Lands that were not cultivated by the proprietor within a limited time were declared grantable to any other person. In Pennsylvania there was no right of primogeniture, and in the provinces of New England the eldest had only a double share. There were no tithes in any of the States, and scarcely any taxes. And on account of the extreme cheapness of good land a capital could not be more advantageously employed than in agriculture, which at the same time that it supplies the greatest quantity of healthy work affords much the most valuable produce to the society.

Source: https://www.gutenberg.org/ebooks/4239
Locator:Excerpt 71 · Verified:2026-10-19 · Verification:Short excerpt

Today's question

Does this passage change one judgment about money or risk today?

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